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tv   MONEY With Melissa Francis  FOX Business  August 21, 2013 12:00am-1:01am EDT

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much. governor scott brown of wisconsin is here t 10-year bond. ashley: we did. "money" with melissa francis is xt. melissa: i'm melissa francis. here's what's money tonight. new stats that prove it is better to be on welfare than work. a jaw-dropping study remeals how much it pays not to earn a paycheck of the man behind it is here to crunch the numbers. plus pillaging trader joe's. vancouver canada, pirate joe's resell traders enormous profits. trer joe's wants to torpedo it all together. pirate joe's tell us how he plans to fight back. "who made money today." she made $42 million, taking the air out of her husband's ego. keep watching to find out who it is. even when they say it's not it is always about money.
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melissa: shocking new study out today really brings home the whole argument over work versus welfare and whether or not it pays to get a job. here's why. you can make more on welfare in 35 states than you would working minimum wage. in 13 of those states, welfare benefits which are not taxed by the way, are equivalent of making $15 an hour. these numbers creating a firestorm of controversy. i spoke to the author of the study, michael tanner of t cato institute to break it all down. those numbers are bleak. in new york, it is even worse because you have to adjust, you're not paying taxes when you're getting these benefits. so you have to essentially gross it up for taxes. in new york you would have to learn $21 an hour before tax in order to take home the equivalent of what you would on welfare. it seems like that's an
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impossible hurdle, to go from a total stand still where you're not working to getting a job that pays more than $21 an hour. does that create an incredible disincentive to go out to get a job? >> particularly for the folks who are on welfare because they will have low skills, low attachment to the labor force. they're not going to be the most hireable people there are out there. they will start at entry level, service type of jobs of the vanely they hope to work their way up but initially they are going to take a hit financially. melissa: right. >> fact is, poor people are not lazy. there is no evidence to suggest they don't want to work but just because they're poor doesn't mean they're stupid either. if you pay them more not to work than they can get by working, well a lot of them are going to not work. melissa: it is almost irresponsible decision. if you're earning equivalent of $21 an hour at home, not only that would you have to pay tax, this is for a mother of two, the benefits she would be getting, single mother of two, you would also have to pay for someone to
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watch her children if not in school full-time or someone to watch them after school. so it is, seems like not a lot of people would make that decision to go out and get a job. at the same time, you don't want to, what's the solution? you don't want to take the benefits away from a single mom whose at home with two kid and getting this. you don't want to take it away, now you have to work or you will starve. we see the problem that y've illuminated for us. how do you solve it? >> i think first of all we need to strengthen work requirements that are in welfare. we know that nationwide only 42% of the people on welfare are actually in work activities, despite the welfare reform that was supposed to make everybody work for their welfare. of those 42%, many of those are looking for work or in job training. only one in five is working in unsubsidized job. let's tighten that up first. second, maybe we need to look at capping the total level of welfare benefits. great britain just put in a cap
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at 500 pounds a week in terms of their welfare benefits. maybe we need to do something like that here. messa: there is aap in a way because the whole idea is that you need to get that first level job in order to rise up out of poverty. i mean the only way to make your family, you know, really have a living wage and to really grow is get out the job and get the next job and next job and move up higher. if you're at home on welfare you are capped. you're permanently stuck at that income. do we need more after program where we wean people off this and they continue part of their aid as they continue to work? is there a transitional way to deal with it? >> well, sure and we have that to some degree in terms of the earned incomeax credit and family child tax credits that help make it a little better to leave welfare for work. to get rid of that marginal tax rate one. highest in the world. when you leave welfare and take your first job. the fact is, that people on
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welfare are not going to do as well in the long term as people that work. melissa: right. >> only 2 1/2% of people who work full time are poor but the in the short term the dision will h hurt and we have to make that more apparent to people. melissa: they will never get to the point where they'reaking $60,000 for their family or higher. social security disability, same thing. it creates a disincentive to go back to work. there are a lot of other programs like, right, michael? >> social security is worse. it is basically light switch program. you work or receive benefits. there is no way you can work and receive benefits at the same time. so that really acts as discouragement to getting in the labor force. melissa: thanks for coming on and sharing your sdy. >> pleasure. melissa: coming up next on "money," is the u.s. secretly cutting off military aid to egypt? conflicting reports say it may be you know way but can it -- underway. but can it send a loud enough message to top the military
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brutal crackdown. plus, al-jazeera hits tv sets across the country. it vows to give the straight news without the fluff? hmmm. can it overcome its notorious reputation. howard kurtz joins us. more "money" coming up.
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melissa: so on to egypt now and the question of are we or are we not still sending billions of dollars in aid to the country? more people are dieing by the day. the death toll now fleer a thousand and conflicting reports out today u.s. secretly suspended aid to the region. the white house denies it and says the question is quote, underreview. here to tell us what the next move needs to be is peter brookes, former deputy assistant secretary of defense. welcome back to the show, peter. what do you think? >> good to be with you. melissa: are we sending the aid or are we not? it is my understanding most of the aid already has been sent for this year. remember we're getting to the end of our fiscal year. so we're in august, two months left. thereay be small amounts of military aid that has not yet been sent. there may be some economic aid
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that has not been sent. think i what the white house is doing here, i don't want to try to channel them, because i don't agree with them on much, but i think they're doing, yeah, there is some left, ifou do the right thing the aid will come. if you don't, it is not going to come and that is whathe word review means. it provides the administration with some leverage because they basically have none left after the way they bungled egypt policy for the last two years. melissa: so saudi arabia took advantage of the situation. immediately jumped in the fray, whatever money doesn't come from the west we'll make up for it and we have plenty, so don't worry. does it matter. >> they said unnamed countries. i'm sorry? melissa: us did it matter? does i matter if we cut off aid if saudi arabia is willingo come in and shower them with money? what difference does it make to them, what difference does it make to us? >> well, it does make a difference because you want influence. now the saudis will have more influence. of course the saudis are supporting the military government. there are other groups such as
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-@qatar and turkey that support the muslim brotherhood. if you want influence, be a player in the game you have to some sort of levers and some sort of chips to play and the united states if they want influence on the future of egypt and we do have important interests there including the camp david accords, the suez canal, counterterrorism, the sinai is a mess, tough have some sort of leverage to be able to leija if you look at chaos to the right on your screen there, you have to wonder sending money right now, the volume is so loud, is anyone even paying attention? would our dollars be missed at this point or is it going into oblivion and blowing up with the rest of the country? >> you have to be ceful. you certainly don't from an optic standpoint, from a national security standpoint, from a human rights standpoint you have to be careful if you're providing some sort of aid to egyptian military they were using against civilians. you have to be very cautious about that and you should be but there is other aid as well. you could send aid to the
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egyptian people who are suffering, cutting out the government. economic support funds, things along that lines. you have to be very, very careful here and once again in the new fiscal year if aid is approved for egypt, you once again will have leverage but my sense is that the generals don't care about this little amount of money that may be spent this year. they're probably thinking about the future and thinking what is going on in the streets in egypt right now. melissa: looking at the streets it feels like the situation is deteriorating even further. is this turning into syria, peter? >> yeah, very good point. i think so. this could move in the direction of a civil war. syria started with the government against some rebels under the arab spring. then all of a sudden there were outside powers involved, hezbollah, iran, turkey, saudi arabia, qatar, and then al qaeda coming out of iraq. i mean i'm not saying egypt's going in that direction but i wouldn't rule it out. you have to be very, very careful that things could spin out of control very quickly.
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melissa: very worrisome, peter, thank you so much for your insight. >> thanks for having me. melissa: time to check the fuel gauge report. labor day travel will hit its highest level in five years, according to a new forecast by aaa. 34.1 million people will hit the road for the holiday weekend that would be up about 32.7 million from last year. aaa says improving conmer confidence will fuel the increase. oil futures saw their biggest drop in two months despite turmoil in the middle east. traders hedging their bet against the fed minutes. those are out tomorrow. you have to focus on that. speculation is swirling around the fed and whether it will derail its tapering plans. fell fell 2%. still not cheap. from bad to worse, japan's fukushima nuclear plant, 79,000 gallons of highly radioactive water leaked from the facility. they don't believe theater made it to the nearby ocean but
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the worst spill is at fukushima since 2011. they have been struggling for months to contain radioactive groundwater. wow. qatar based cable channel al-jazeera america official launched was a few hours ago. the news outlet making a bold promise to deliver real unbiased news. hmmm. given the situation in egypt and ongoing dialogue with aid the channel will be put to the test from the start. with his thoughts so far, media analyst and fox news contributor howard kurtz. great to have you with us, howard. what do you make of the programing here today? >> melissa there certainly was a big buildup. al-jazeera promising unbiased news and in depth and more serious news. from what i've seen, very competent, very brisk, very professional butot much more depth than you would see on a other cable news network. melissa: how do they overcome the baggage that is associated with al-jazeera? you hear the name. you think of al-jazeera in the middle east and the airing of
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the bin ben tapes after 9/11 and a lotf people thinking that fueled the fire -- bin laden tapes. reporters who have quit saying they're anti-american. how do you start a cnnel in america that is labeled as anti-american and overcome that. >> up with thing you're doing if you're al-jazeera america, u open the checkbook and hire other anchors worked at other networks. joie chen, soledad o'brien and you make a claim you're not the parent company and you are going to be fair and shift the focus from international news they will certainlye some to this country where al-jazeera america has opened a dozen bureaus around the country. melissa: so far they plan to have six minutes of commercials every hour. do you think that is function wanting less commercial time or having advertisers who are wary of signing up? >> it may be the best al-jazeera america can do right now. i watched the opening hours to
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see on that very point. there were some commercials. only major corporate sponsor i saw, melissa, was gillette. i think until this new channel can demonstrate that 2 can put people in the seats and build up some ratings, certainly from the low-rated current tv it bought from al gore, it will be a struggle to get advertisers and to, to establish an independent identity given the package that you -- baggage that you referred to. melissa: very interesting story on front and center first day out there, everything going on in egypt. have you notice ad difference in the tone and content of coverage what's going on in egypt? frankly people maybe are looking for a different point of view. have they done something different on the egypt story? >> well, it's a little early to say and there's no question the government of qatar has been sympathetic supporter of mohammed morsi's government but, egypt happened to be the lead story on opening newscast. i have to say it was played straight, just about down the middle the way i would see on
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any other news channel but it's little early to form those judgments. i will keep watching and form a judgement whether or not this is a channel fair and balanced to coin a phrase both in coverage of this country and around the world. >> i only know one group that's fair and balanced. >> i set you up for that. melissa: you did. howard kurtz, thank you very much. >> thank you. melissa: where is jack sparrow when you need him? pirate's joes making a killing from reselling trader joe's goods in vancouver but the grocery giant is firing the legal cannons to shut it down. the owner of pirate joe's joins with us his plans to fire back. did you sign a non-compete clause when you took the last job? some say the whole idea is one of fastest growing threats to our econo. stick around and find out why? do you have ever have too much money? it is just not possible. ♪
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♪ melissa: talk about piracy? a store in canada aptly named pirate joe's is business only selling products from trader joe's. now the giant u.s. groce is suing. can pirate joe's stay afloat or will this lawsuit push it off the plank? joining me now is pirate joe's owner mike halet. thank for coming on the show. you call yourself pirate joe's. you spend $5,000 a week on their products. you have to go to a bunch of stores to get it done. drive it back over the border. mark it up. you sell it. do you feel like you're bating
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the shark a little bit? are you surprised they come after you? >> i was warned they might. i was doing my best to avoid tantalizing the shark into a bite but, turns out thathey have figured they have to put me out of business. you know i bought the stuff full retail. i own it. i get to do whatever i want with it. that includes selling it to canadians in vancouver. >> i understand you say whatever you own you can resell. you know that seems like a fine principle. at the same time, it seems like the very least there is a lot of copyright infringement there. you style yourself in the same way. you sort of ripped off their name. you ve got the products exclusively theirs, marking it up, but at the very least have you not stolen their idea and copyright, that sort of thing. >> i disagree completely. pirate joe's is shorthand of unauthorized unaffiliated activity. there isn't a person in vancouver that doesn't know what we're doing and why we're doing
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it. so there is no confusion. that is the essence of any trademark infringement. trader joe's is arguing that, you know, canadians aren't sophisticated or intelligent enough to tell the difference between my little shop on fourth and their, the trader joe's empire. i disagree. so we'll find out in court. melissa: you know, they're saying that you diminish their brand, i guess you know, they're thinking that you could go and buy any sort of products and do something to it and sell it under their name and that way you may be tarnishing their brand. they have done a a lot to stop u and have your picture at some of the stores. walk me through outhow you do it and what they have done to you. >> they have tried to stop me from buying the product, which, you know, i have respected that i don't go in the stores any longer. i have people shop for me. of the press has been helpful because, we've had emails from people all over the country offering help to get our supply. we don't need a lot of stuff.
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you know, i tell everyone that comes in the store, go to trader joe's. draw them a map to belling ham and stock up. if you're out of peanut butter doesn't make a lotf sense to get in the car and drive 80 miles to get it. melissa: i was going to ask you, it is '80 miles. what do customers say when you come in? do they complain you marked up the very same thing for more than it would cost them to spend in gas to go? i mean what do they say? >> well, you know, i'm bumng up against human psychology. if you know the price of what i pay for something, you know, you're going to be reluctant to go along with the markup. so, that's always been, you know a concern. so we have saying if you come in, grab a basket, too many questions we'll give you a free candy bar. we try to have fun. people comen. they shake my hand. thanks f doing it. i've had people who come in lot of their passport or, you know, there is lots of stories that go around. we're really just trying to offer a better way to get trader
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joe's stuff than, lining up -- melissa: driving all the way. are you making a lot of money? how are you doing? is this profitable business? we celebrate that. don't be shy if you're making a lot of money. the show is "money." >> there is p&l statement, nonrecurring expenses. trader joe's is making it hard to make money. i make it enough to make rent. irish kid barry, that works for me is looking for a raise. he doesn't have one yet. i can do it. the other part why is it that i can buy, why is it crackers are made in winnipeg, shipped down to monorovia, sent to belling ham in a truck. go down in my van, buy them up here, and sell them in a store and they're cheaper than safeway. melissa: they have pricing power. they have a lost stores. mike, i love your story. we'll stay on top of it. get up to you. you should be franchise owner
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for them. we have franchise friday on the show. you would be a perfect franchisee for them. what have they said to you? do they want to go into business with you? are they icing you out? >> everyone is icing me out. they're a black box. they don't pick up the phone. melissa: thanks for coming on. >> thanks for having me. melissa: a story like this, obviously was the "money" question of the day. is this genius or a total ripoff? i got a mixed reaction. got comments ranging from free market capitalism. i agree with. he has a market base to making money. one obviously disagree. one was how do you sleep at night, friend? sounds like he was sleeping pretty well. follow us on twitter, i promise it is fun at melissaafrancis. all right. keeping with entrepeneural angle here, numerous experts think the key to thriving economy is small business but what happens when your big employer basically stops you from being able to start your own company or get
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another job? that is happening more and more because of non-compete agreements which are actually becoming increasingly re common. now some are even saying those very clauses are the fastest growing threat to our economy! that is quite an argument. here to break down both sides, a man who started his own company and got sued over his non-compete. bob mash, a ceo that supports them. rami, let me start with you. obviously you have a an opinion about this one. why do you think it' a bad thing and tell me about your experience? >> i think they're a bad thing because in, in, any kind of industry you look at innovation as a way for entrepreneurs for them to build better mousetraps based on their previous history. anytime you sign a piece of paper said you're not allowed to go build a better mousetrap, stifles the ability for entrepeneurs to innovate. my personal background comes from a situation where we weren't directly competing but the threat of the non-compete
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hindered our ability to grow. luckily we were able to clear that out and clear up the misunderstanding but not everybody's that lucky. just the threat of litigation is enough to shut down a lot of entrepreneurs. melissa: bob, this is one of theof those ones i really see both sides of the argument. at the same time if you're a tech company, even if you're in retail and somebody inside your compan that sees all your margins, sees your intellectual property, understands how your business is done they could extort you, either give me a raise, i will leave tomorrow and i know all of your customers, i know all of your systems, i know all of your margins, i know all of youruppliers, i know your software and i will open a store across the street and crush you. isn't that what could happen without a non-compete? >> that is the core of the issue. i certainly understand both sides it as well. i look at it is protection for the company and also for the employees. we think about offerings having non-compete to exist, you're trying to protect against the
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potentially malicious or destructive kind of work that someone could possibly do. you always hope that it will never happen. i believe in the idea to create a culture of openness and honesty and trust, in return i want to talk to everyone about the inner-workings of the business exactly how you're saying idea of non-compete provides some element of legal protection that someone will not use it against you. to be fair to all the other employees, you think about risk of employee leaving potentially doing something that could be hurtful to the business, having non-compete is protective of everyone else in the company. melissa: okay. how do you respond to that? >> i can understand the perspeive, key employees, executives, management understands the key workings of the business need to be protected. those inner trade secrets. i agree, there is a place and time for non-cpetes. the place where i take offense or objection to is, where you extend that non-compete to salespeople, to low level engineers, people that don't know the inner-workings of the
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organization and that prevents them from going to anybody within any kind of sector that's tangsent alley related. it is a way to stifle an employee's growth or ability to expand their career by holding on to them with a piece of paper. melissa: bob, this is where we're going with this segment and it has chilling effect on the economy. if you keep everyone stuck in their job or their position where they are, if they do quit they have to sit on the sidelines for six months or a year or whatever it ist stifles growth throughout the economy and entrepreneurship at a time right now when we desperately need it. how do you respond to that? >> of course we need to drive this. i don't know that lip nating non-competes will be the driver of that change though honestly. i understand the idea of it. if you say, yes, froze in time everyone who is let go can not compete, yeah, that would create that kind of a scenario. i don't know how probable that really is. the again the idea is not to try to control the employees or try to do anything negative for
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somebody. i want to foster and grow people with their own company and create opportunities for them but again, you have to have some level of protection which is only fair to the company and all other employees as well. melissa: okay. gentlemen, thanks to both of you. >> my pleasure. >> thank you. melissa: next on "money," warren buffett will give away almost his ente $50 billion portion. who gets the money? me? no. his sister dorisuffett decide and she joins us exclusively on her newest effort. she will tell us how she will decide who she gives money to. you want some? stay tuned. "who made money today?" after pulling in $42 million she sick mag her husband -- is making her husband her financial water boy. i love it. more "money" after this. ♪
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♪ lissa: there's no doubt. when you hear the nameuffett, you think of money. that is exactly what we're all about. billionaire warren buffett in 2006 down to give away his own personal fortune to charity. since then shockingly their requests for his cash have been pouring in. we turn the job of deciding who gets it over to his sister. she treated the sunshine lady foundation. and a free online course was launched about how to be a philanthropist. joining me now, alex buffett believes his own foundation. his grandmother. welcome to the show. thank you for joining us. how want to start with you. give away all this money that immediately letters poured in from people say all kinds of things. my car broke down any to give my kids to school.
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so many. when he handed them to you, what do you think and how did you decide you to give money to? >> well, it was a tough question because the firstatchy gave was 410 letters. many of them were really in bad shape. in fact, there were three who died before we could reach some. i wanted tough look at them as a group of people who had very bad luck. i'm not interested in bad choices because that only encourages someone to do something else. the bad luck people are absolutely genuine. this been the greatest joy of my life today to be able to help them. that's how i started. melissa: that really gets to the heart of the matter. how do you decide when giving away money whether you are a billionaire who has a lot of money to give away or if you are a simple family trying to do your part in the charitable. how do you decide who is down on the block into has made bad choices? >> well, that's a good question. the best part about that is i
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never had to answer that question. we start one school in 2003. a professor there. he noticed that no one was teaching philanthropy in nonprofit studies. he thought very strongly as such a big part of our economy. something like or 300 billion was distributed. and something that should be taught to students around the country. that was a first-class. we will give the students to $9,000 to distribute to the community and it will grow from there. so the best part about answering the question is, we don't decide. the teachers are the real practitioners work with the students and their the ultimate ones that make the decisions about how best to improve the community. >> my job, the students are seven games. >> they love it. >> the children, the kids, the grown ups. and don't know what the correct term is, but they adore it
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because this is real money. they're making important decisions. i don't step in and all except that the money has to be given within the area in which they left, not sent off to se faraway land where you can check on anything. >> you have given away a lot of money. your foundation, you get that name because you were helping people who were down on their luck to haveimple to complex problems. you give away 10 million a year through the foundation and certainly get a lot of requests. i'm looking in your list. you have scholarships. they have some strings attached. maintaining a gpa. nobody piercing, no use of drugs on no alcohol, no smoking. what made you decide on those requirements and how you and force them? to you inspect? >> yes. actually, we do. i was hoping tha we could get them through.
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if we get them to pledge to do that they would have a better chance of being successful in the later life. amazingly enough they took to it it's sort of the grant of thing. the parents are crazy about the walls. privileged. you can imagine. they actually. the fact that the young man came up to me. very hesitantly said that he was going to a very good school. very smart. he said, if you do that you have to have a little tattoo. i looked very serious and said, well, where is it. he pointed to behind the shoulder. how big? like a quarter. the right of passage. well, it is. then all right. he said to me, i would not have -- how would not have done it if
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you said no. it works. somehow it works. melissa: doris, you are a softie. i am sure that is why everyone loves you. thank you for coming down. we will follow the course. interesting to see how it turns out. thank you. >> thank you. >> thank you. melissa: it will probably get a lot of letters. i may send my own. anyway, up next on "money", an idea so simple, yet so brilliant i can't believe i did not come up with the first. the coupl behind one of new york's hottest stores is here to show it off. of wonder if it would like a certain tv anchor desk of a franchise for them? to then of brega franchise friday's? don't go anywhere. at the end of the day it's all abt "money." hi, i'm terry and i have diabetic nerve pain. it's hard to describe, because you have a numbness,
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but yet you have the pain like thousands of needles sticking in your foot. it was progressively getting worse, and at that point i knew i had to do something. once i started taking the lyrica the pain started subsiding. [ male announcer ] it's known that diabetes damages nerves. lyrica is fda approved to treat diabec nerve pain. lyrica is not for everyone. it may cause serious allergic reactions or suicidal thoughts or actions. tell your doctor right away if you have these, new or worsening depression, or unusual changes in mood or behavior. or swelling, trouble breathing, rash, hives, blisters, changes in eyesight including blurry vision, muscle pain with fever, tired feeling, or skin sores from diabetes. common side effects are dizziness, sleepiness, weight gain and swelling of hands, legs and feet. don'drink alcohol while taking lyrica. don't drive or use machinery until you know how lyrica affects you. those who have had a drug or alcohol problem may be more likely to misuse lyrica. ask your doctor about lyrica today. it's specific treatment for diabetic nerve pain.
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melissa: forget the craze. they're is new bike to sink your teeth into. i cannot believe it has not been thought of before. set to change the way you bagel. it's a big hole. the round bagel by filled with things like cream cheese, flavored cream cheese, a million different options. here now by the creats, the owners. welcome to thehow. i did my best. is there something really hard about doing this that no one has done this? there have been donut holes. everyone put something on the bagels. what would you not do this before? >> i don't know. >> easy enough. came up with it in a dream. melissa: you had a dream and it came to you? >> i did. at a dream about small balls full of cheese. melissa: interesting.
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is there enough variety? this is very hit the new york. the shop that does one thing really well weather is cookies of this or that, of places to just one thing. is it enough sustain the business? >> while we are serving one thing, we have so many varieties . it is available for anyone. if you of something savory, sweet, your normal breakfast option. everything bagel with bits of cheese. late night. one is called the bleecker street. marinara, mozzarella, cream cheese covered with pepperoni. >> and pizza. melissa: are you aware their is a whole anti card thing? >> we are. melissa: your fighting a lot of trends. >> but to tt point we are also facilitated by another trend which is the trend of the small. taking something that is providing and accessible
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version, striking it down. melissa: with the people that go into business for themselves because it's a tough time in the economy. yet to go out and make your own way. it is something called franchise friday. people are starting their own businesses. neither of you were bakers when you decided too this. you both have financial backgrounds. >> both from finance backgrounds. now working as a credit brokerage i in the city. melissa: a bit think you were crazy because you have no baking experience? >> here is the thing. at the end of the day we believed so wholeheartedly in our product and our plan and business and partnership and demo we doing. truthfully it is not about us being experts to picking because -- melissa: you can hire someone to do that. >> there are successes. it has rested on the fact that we don't expect to be experts.
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we're not afraid to say -- melissa: we know when we tasted it is going to be good. and going to take a bite of this. i can't keep asking questions and beat this at the same time. we have our own professional sampler. let me ask you. dagen doughnuts. you're supposed to sit here. do you like it? he can't speak. >> that's a good sign. melissa: are you worried of competitors? that is what we have seen. >> they're something to be said about someone who wants to copy something you already done. >> we have to start at some time. we were not appointed just -- >> having another one. melissa: with these? >> this and the monster cinnamon raisin bagels. melissa: congratulations. the store is about to open.
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we love the on general spirit. thanyou for coming. next on "money," you might have too much of it when you can spend 20 bucks a btle on war. a luxury war. the finest liquids from around the world. we're going to do a taste test. and having the big a bite. first and going to have the really expensive water. one not. @% it tastes like water. much more "money" straight ead. ♪
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♪ melissa: it's time for a little fun with "spare change". today we are joined by jason mossberg and veronica dagger. a very important job for you day. without question. high-priced water taste test. we heard about this restaurant which offers customers a longer menu. bottled water from all over the world. some as much as 0 a bottle. we're going to see if we can taste the difference. five different plans. let's get to it. three courses in from a bus. you will treat them and decide which relied pass in which we think is the most expensive let's see. i wonder why people would do this perhaps the are trying to kick off gall and food to be
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going out to work on the war pilot. on some building. really attractive. i hope everyone out there is very much to join at. i'm going to say whether be is the most expensive. but i'm like a the best. it's fine the you would say that you want to win in? >> you know, i think, a little embarrassed. this is more expensive. melissa: take a shot at it. reagan's. >> it all tastes great. i like see the best. melissa: now you have to guess which is the most expensive. >> and tell you, probably would not pay more than $3 for a bottle of any of them, but that's me. melissa: i always get tap water. i know if that makes me cheaper one.
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okay. it's the most expensive. melissa: so we have a refined palate. we picked the $20 per bottle. it's glacial water from western greenland. a massive iceberg breaks off 15,000 year old glacier harvested and melted under strict purity guidelines to preserve the waters natural qualities. the water is untouched by man with no trace minerals. that's why it's worth $20. it was the best tasting. i don't know if it was $20 great he was the second most expensive and a trade. see, the one at all was the most expensive is from the poland spring machines i thought it was the most expensive. my least favorite that's too bad.
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out on now. what do you think? >> and lanai pixie. i would rather pay for stuff that really makes a difference. melissa: when you go into a restaurant you will the fanciest ? >> sometimes older sparkling water, but other and that i just have five water from the tap, especially in new york city. melissa: there you go. thank you for joining me from a water test. up next, who made "money" today. rth 42 million. made -- one thing all over. you can never have too much ney or too much really expensive water. i will enjoy this class. ♪
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melissa: whether it's on wall street on main street, here's to make "money" today, anyone who owns best buy. along with the founder, the turnaround efforts may finally be paying off. cost-cutting helped it post a strong profit in the second quarter. sales and revenue is also slowing down. the news sen stock jumping one and 13%. stacks of. that means he made more than $270 million today. meanwhile, losing "money" today, everyone in on the barnes and noble along with the founder. he abandoned a push to take t private. the company reported a steep quarterly loss. hammering the stock more than 12%. barnes and noble largest individual shareholder with nearly 18 million shares. he lost 37 million today. and she was the world's highest-paid model of the past year pulling in 42 million.
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that is according to a new ranking by forbes. her hit, tom brady, made 30 million. i love the new hair cut. >> the following is a paid advertisement from star vista entertainment and time life. >> ♪ you're the meaning in my life ♪ ♪ you're the inspiration >> ♪ that's how much i feel >> ♪ feel for you, baby >> ♪ how much i feel >> ♪ well, i need your touch >> intimate moments, cherished memories, unforgettable romances, the language of love can be spoken in many ways. and nothing ignites your emotions likehe power of love. >> ♪ i'll always love you ♪ for the rest of my days >> ♪ a one in a million


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